Leno announced the move Wednesday in a news release.
NBC also confirms that the show will be moving to New York City when Fallon takes over. "Saturday Night Live" producer Lorne Michaels will take over as producer of the new "Tonight Show."
The move has been widely reported but not confirmed by the network until now. NBC reportedly just wrapped up negotiations with Fallon on a contract extension.
NBC did not say who replace Fallon in his current time slot, which is one hour later than the "Tonight Show."